From dictatorship to crisis: The evolution of top income shares in Greece

Kostas Chrissis and Franciscos Koutentakis
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Kostas Chrissis: Hellenic Statistical Authority

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Abstract: The paper calculates the top income shares in Greece from 1967 (the seizure of power by the military dictatorship) until 2017 (the aftermath of the debt crisis). This long-run perspective allows us to examine the relationship be- tween income distribution and institutional transformations, namely democracy, finance and crisis. We find that the evolution of top income shares broadly corresponds to discrete political and economic arrangements, in particular (a) transition to democracy did not affect the income shares of the top decile, whereas social democracy had a signi_cant negative impact (b) _financial development and liberalization substantially increased the top decile shares (c) debt crisis, consolidation and recession were beneficial for the up- per ranks of the top decile.

Keywords: Greece; top incomes; income distribution; institutional transformations; democracy; finance; crisis; dictatorship (search for similar items in EconPapers)
Date: 2019
New Economics Papers: this item is included in nep-his
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Working Paper: From dictatorship to crisis: The evolution of top income shares in Greece (2019)
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